WeWork Cos., the world’s most valuable co-working space startup, has just sealed a $430 million USD pay packet to fuel their expansion across Asia’s fastest growing innovation hubs.

The investment was led by Chinese investors, and will help the US-based company open centers in several countries including China, South Korea and Japan. The latest funding values the company at $16 billion USD, up from the $10 billion USD following their last round in June 2015.

The financing was led by Beijing-based Hony Capital and parent company Legend holdings. According to filings submitted by the company on Tuesday, the company has allocated up to $780 million USD worth of shares for possible sale as part of the latest financing round. 

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com